Large Hog Exports
Thursday cash cattle sales reached $106 in Iowa/Minnesota and feedlots in Kansas after dumping cattle earlier in the week had sales up to $105.00. Packers want to put as many cattle as possible through the line.
Beef appears to be bottoming.. Choice spread is widening out again. This week movement has been larger than previous weeks. Big Choice movement and ground beef and trimmings remain large.
Pork carcass gained 3.89 with gains on hams up 8.70 but all primal cuts higher with small gains on loins. Large contract buyers have pork contracted at much lower prices and for small movement on daily sales, only 280 total loads Thursday the hand to mouth retail buyers are being squeezed and have to pay the asking price.
Hog exports were big but didn’t get as big move on futures as should happen with 50,600 metric tonne movement.
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